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The U.S. Supply Management Association’s index above 50 represents expansion of the manufacturing industry, and a score below 50 means that the industry has contracted. The manufacturing activity index includes a number of new orders, production, employment, inventory, prices and other indicators; of which the new orders index for the month was 58.9, higher than the 51.1 in September; the inventory index for the month was 53.9, lower than the 55.6 in September.
The Supply Management Association believes that as the U.S. economy continues to recover, manufacturing continues to expand, with the automotive, computer, and export industries becoming the engine of the manufacturing recovery. In the 18 sub-industries covered by the Institute, 14 sub-sectors such as petrochemicals, machinery and electrical equipment have expanded in October.
The data released by the U.S. Department of Commerce on October 29 showed that in the third quarter of this year, the first estimate of the real GDP of the United States rose at an annual rate of 2.0%, slightly higher than the 1.7% increase in the second quarter, indicating that the U.S. economy Continue to grow slowly.
According to a report released by the American Institute for Supply Management on the 1st, the US manufacturing activity index in October was 56.9, which was higher than the 54.4 in September, and achieved 15 consecutive months of expansion, indicating that the U.S. economy is gradually recovering.